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Search Results 0 to 5 of about 6 (some duplicates have been removed)
CBS
Feb 20, 2013 4:00am PST
harming our economy. but congress has to act. >> reporter: the white house wants a plan with smaller spending cuts and more tax revenues. republicans say the government is already too bloated and higher taxes should not be part of this equation. the budget expert says the automatic cuts will hurt the economy, even though most government agencies should be able to weather them. >> most organizations can manage a cut of 5%, 7% in their budget without long-term harm. i don't mean it won't be painful. it will be. >> reporter: allen simpson and erskine bowls who led a commission on the debt say it will be painful for lawmakers as voters start feeling the effects like longer lines at the airports. >> when that happens, they're going to come back to congress and say we're sick of this intrancyin intransigence intransigence, let's do something smart. >> reporter: they'll only have a few days when they return next week. danielle nottingham, cbs news, the white house. >>> on the "cbs moneywatch" now, going on the offensive against cyber attacks, and apple gets bitten by
CBS
Feb 20, 2013 4:00am EST
our deficits without harming our economy. but congress has to act. >> reporter: the white house wants a plan with smaller spending cuts and more tax revg news. republicans say the government is already too bloated and higher taxes should not be part of this equation. budget expert isabelle says the automatic cuts will hurt the economy,'ve though most government agencies should be able to weather them. >> most organizations can manage a cut of 5%, 7% in their budget without long-term harm. i don't mean it won't be painful. it will be. >> reporter: allen simpson and erskine bowles says people will start feeling the effects like locker lines at the airports. >> when this happens they're going come back and say we're sick of this intransjens, let's do something smart. >> reporter: they'll only have a few days when they return next week. >>> on the "cbs moneywatch" now, going on the offensive against cyber attacks, and apple gets bitten by a bug. erica ferrari is here with that and more in new york. good morning, erica? >> good morning, anne-marie. tokyo's nikkei gained 1%. hong kong's han
CBS
Feb 22, 2013 4:30am EST
to come for the nation's economy, walmart says it expects business to slow down in the coming months. the world's largest retailer reported higher than expected fourth quarter profits on thursday, but walmart said sales are weakening as customers battle rising gasoline prices delayed income tax refunds, and higher payroll taxes. >>> the gasoline prices are at their highest level for this time of year. aaa says the average price for a gone of regular is $3.78 nation wide. that's up 47 cents in the past month. aaa says the higher prices are due to seasonal maintenance at refineries. analysts expect gas prices to rise further in the coming weeks. and the outlook is no better at the supermarket. the u.s. department of agriculture says food prices will rise by as much as 3.5% this year. that's nearly double the rate of inflation. the steep rise is blamed on the severe drought that's gripping farmers and cattle ranchers in the nation's midsection. anne-marie? >> ines ferre here in new york. thank you, ines. >>> when we return, driving in the fast lane. danica patrick
Search Results 0 to 5 of about 6 (some duplicates have been removed)